Retirement

I. Retirement Programs

For SERS (State Employees' Retirement System), call the following to find out about your retirement options:

  1. The SERS Office at 814-863-6506. Address: 2525 Green Tech Drive, Suite AA, State College, PA 16803. If you are calling from a campus phone, you will need to dial 8 + 863-6506 since it is not located on campus. Office hours are 8:00 A.M. - 4:30 P.M. Monday thru Friday.
  2. The University Benefits Office at 814-865-1473. This office is located in 205 Rider Building and handles the health and other benefits upon retirement.
  3. Retirement income calculator for SERS employees.

For TIAA/CREF, call:

The TIAA/CREF office at 1-800-242-2010

The University Benefits Office at 865-1473. This office is located in 205 Rider Building and handles the health and other benefits upon retirement.

More information on both systems can be found at http://www.ohr.psu.edu/benefits/comp.htm

II. Penn State Benefits for Eligible Retirees

Library: You will be able to retain faculty privileges at the Library. You will have to go to the Circulation Desk, show your faculty-staff card, and they will issue you a library card that entitles you to the same privileges as other faculty and staff.

Computer accounts: Access accounts are retained as long as the retiree retains benefits upon retiring.

Other benefits: there are a number of other privileges upon retirement. Please see http://www.ohr.psu.edu/benefits/BenRet

III. Phased Retirement Policy
The University has instituted a phased retirement policy. With the approval of their department head and dean, faculty can shift to a part time appointment, usually no less than one-half time, for a fixed period up to three years. Faculty can take advantage of this option whether they are in SERS or TIAA-CREF. Further details can be found on the OHR web page: (http://www.ohr.psu.edu/policy/hr29.htm)